NEW YORK, Dec. 15, 2010 /PRNewswire-FirstCall/ -- Lexington Realty Trust (NYSE: LXP), a real estate investment trust focused on single-tenant real estate investments, today announced that it priced a public offering of 10,000,000 of its common shares at a public offering price of $7.70 per share. Lexington also granted the underwriter an option for 30 days to purchase up to an additional 1,500,000 common shares. Settlement is expected to occur on or about December 20, 2010.
Lexington intends to use the net proceeds of the offering for general corporate purposes, including the repayment of indebtedness.
Barclays Capital Inc. is acting as the sole book running manager for the offering.
All common shares will be offered under Lexington's existing shelf registration statement filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus supplement. The prospectus supplement related to this public offering will be filed with the Securities and Exchange Commission. When available, copies of the prospectus supplement may be obtained from the offices of Barclays Capital Inc. at the following address:
Barclays Capital Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state.
ABOUT LEXINGTON REALTY TRUST
Lexington Realty Trust is a real estate investment trust that owns, invests in, and manages office, industrial and retail properties net-leased to major corporations throughout the United States and provides investment advisory and asset management services to investors in the net lease area. Lexington shares are traded on the New York Stock Exchange under the symbol "LXP". Additional information about Lexington is available by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.
This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington's control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington's periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington's expectations will be realized.
SOURCE Lexington Realty Trust